Aradel Holdings Plc listed 4.34 billion shares on the Main Board of the Nigerian Exchange on Monday, boosting the market capitalisation by about N3.05tn.
The energy firm’s shares were listed at N702.69 per share through a ‘Listing by Introduction’, bumping the oil and gas sector’s participation in the equity market upwards.
Aradel Holdings, a major player in Nigeria’s oil and gas industry, operates across the entire oil and gas value chain, with business interests in the exploration, production, and refining of petroleum products.
The listing offered investors the opportunity to engage with one of Nigeria’s most diversified energy companies, positioning it as a key entity on the exchange.
At the Facts Behind the Listing event, which was held on Monday, senior executives of the firm presented its growth strategy and financial performance to investors and stakeholders.
The Chairman of Nigerian Exchange Group, Dr Umaru Kwairanga, highlighted the importance of the listing, saying, “This achievement is not just a win for Aradel, but also a clear indication to both local and global investors that Nigeria’s capital market remains vibrant, resilient, and full of opportunities. We are honoured to facilitate capital raising for companies like Aradel that play a critical role in Nigeria’s economic progress.”
The Chief Executive Officer of NGX, Jude Chiemeka, explaining the role of NGX in supporting corporate growth and innovation, said, “Aradel’s listing highlights NGX’s ability to support leading companies in their growth journey. This is not just a milestone for Aradel, but a key moment for the energy sector, demonstrating how the capital market can fuel efficiency and development in critical industries.”
Also, the Chairman of Aradel Holdings, Mr Ladi Jadesimi, highlighted the company’s focus on innovation and sustainability, noting that Aradel was poised to expand its footprint in the renewables space while maintaining its leadership in the oil and gas sector.
“The listing of Aradel Holdings on NGX represents a pivotal moment for us,” Jadesimi said. “We are committed to driving sustainable growth in Nigeria’s energy industry, particularly in the renewables space, while continuing to excel in petroleum product exploration and refining. This listing provides us with the platform to unlock further value for our shareholders,” he said.
Commenting on the listing, the Managing Director/Chief Executive Officer of Aradel, Mr Adegbite Falade, said, “This will mark a historic milestone for Aradel as we list on the NGX, underscoring our commitment to creating long-term value for our shareholders and deepening our contributions to Nigeria’s economic landscape.
This listing is a testament to our resilience, adaptability, and unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries.
“As we embark on this new chapter in Aradel’s transformation journey, we remain focused on operational excellence, strategic expansion, and delivering returns that reflect our track record and vision for an energised future.”
The All-Share Index rose by 0.62 per cent to close at 98,215.13 and the market cap gained N3.42tn to close at N 59.51tn.
